Pan African Resources (“Pan African” or the “Company” or the “Group”), a dual JSE- and AIM-listed gold producer and tailings retreatment specialist, has entered into an energy supply agreement with energy aggregator NOA Group Trading (“NOA”), securing a renewable energy profile equating to an allocation of 44MWAC (112 GWh) per annum—representing approximately 10% of the Group’s total electricity load.
The ten-year agreement, which includes an option to extend to 15 years, is a structured and scalable solution allowing Pan African to source renewable energy from multiple generation facilities across the country, ensuring increased reliability of energy supply to the Group’s Barberton Mines, Evander Mines and Mogale Tailings Retreatment (MTR) operations situated in the Mpumalanga and Gauteng provinces. This approach optimises generation profiles by leveraging diverse geographic and resource-specific characteristics.
The agreement also includes the provision of verified International Renewable Energy Certificates (I-RECs), enabling Pan African to accelerate its decarbonisation goals and report tangible emissions reductions of approximately 137,000 tonnes of CO₂ per year.
“This is another strategic step in our journey toward sustainability and operational resilience following the commissioning of our solar renewable energy plants at Evander Mines in 2022 and Barberton Mines in 2024,” said Cobus Loots, CEO of Pan African. “In addition to materially reducing the Group’s carbon emissions, these projects will assist in stabilising the electricity supply to our South African operations, while also realising commensurate cost savings that will sustainably reduce our overall AISC (all-in sustaining cost) per ounce of gold production in the longer term.”
NOA, backed by African Infrastructure Investment Managers (AIIM), has now secured several major power supply agreements in the mining sector. This deal reflects the growing demand for reliable, cost-effective renewable power by mining operations as the industry pivots toward greener energy alternatives.
“We recognise the enormous potential in South Africa’s mining sector, with around 15.8 GW of renewable energy initiatives currently underway,” said Karel Cornelissen, CEO of NOA Group. “Our focus on scalability and tailored energy solutions means we can offer extremely competitive tariffs and help clients meet their ambitious ESG commitments.”
Cornelissen added that this transaction was concluded in just three months, underlining the agility and entrepreneurial drive of both companies. “Speed to market and contract flexibility are central to our value proposition. This is what’s possible when two committed and solution-oriented teams come together.”
Pan African is widely acknowledged as a leader in mine-site renewables, having commissioned South Africa’s first utility scale distributed generation facility, the 9.975 MWAC solar PV plant at Evander in 2022, providing approximately 30% of the Elikhulu tailings retreatment plant’s power demand at Evander. The Company also commissioned its 8.75 MWAC Fairview solar PV plant at its Barberton Mines Operations in August 2024. The Company is currently advancing the development of an additional ~20 MW solar facility at Evander Mines and has initiated a feasibility study for renewable energy infrastructure at its recently commissioned MTR operation. For further details on Pan African please visit the Company’s website www.panafricanresources.com
